Hasbro 3Q profits rise on expanding sales abroad

Toy and game maker Hasbro Inc. posted net income of $192.3 million, or $1.46 per diluted share, during the third quarter of 2013, a 16.6 percent increase over the $164.8 million, or $1.24 per diluted share, reported during the third quarter of 2012. More

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manufacturing

Hasbro 3Q profits rise on expanding sales abroad

HASBRO, the Pawtucket-based toy manufacturer, saw its bottom line rise 16.6 percent in the third quarter to $192 million from $165 million during the same period last year. Hasbro President and CEO Brian Goldner attributed the increase to the company's expanded presence in the international market.

PAWTUCKET – Toy and game maker Hasbro Inc. posted net income of $192 million, or $1.46 per diluted share, during the third quarter of 2013, a 16.6 percent increase over the $165 million, or $1.24 per diluted share, reported during the third quarter of 2012.

As its bottom line rose, Hasbro also saw net revenue increase 1.9 percent to $1.4 billion during the three months ended Sept. 29. During the third quarter of 2012, the company reported net revenue of $1.3 billion.

Hasbro cited “difficult comparisons with 2012” for its Marvel and Beyblade brands in assessing the fall in revenue from the company’s boys segment, while attributing its third-quarter overall growth to increased demand from international markets. Hasbro’s third-quarter net revenue in the U.S. and Canada fell 5 percent in 2013, to $736 million from $775 million in 2012. Internationally, net revenue for the toy company rose 11 percent to $583 million in the third quarter of 2013 from $524 million a year earlier.

“Our brand initiatives for holiday 2013 are resonating with consumers and retailers globally as we enter the all-important fourth quarter,” said Brian Goldner, Hasbro president and CEO. “In addition to our innovative holiday launches, our expanded presence in faster-growing geographies is delivering growth, including emerging markets growth of 22 percent in the third quarter.”

For the first nine months of 2013, Hasbro’s net income rose 8 percent to $222 million, or $1.69 per diluted share, from $206 million, or $1.56 per diluted share during the same period in 2012. The company’s net revenue fell slightly to $2.8 billion in the first three quarters of 2013, a decline of 0.2 percent over the first three quarters of 2012.

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